AOL Layoffs Coming? Verizon Could Cut 2000 Jobs After Merger
AOL layoffs are reportedly on the way after the company merges with Yahoo! Inc. (NASDAQ:YHOO).
Recent reports claim that Verizon Communications Inc. (NYSE:VZ), the owner of AOL, will be reducing the company’s workforce after it merges with Yahoo. The merger is set to take place once VZ finishes its acquisition of YHOO.
The new company that will be created by merging AOL and Yahoo! Inc. will be called “Oath.” The reports claim that Verizon Communications Inc. plans to cut 15% of jobs after the merger. The two companies have a combined total of about 14,000 employees. This means that roughly 2,100 jobs will be cut.
The reason for the job cuts following the merger will be to remove duplicate positions.